SCOTTISH wave energy company Aquamarine Power has been forced to stop trading after it failed to find a buyer.

The Edinburgh -based company had called in administrators at the end of October.

James Stephen, from administrators BDO, said a number of interested parties had been spoken to but no offers were made. The company ceased trading on Friday.

A total of 14 jobs have now been lost, 13 in Edinburgh and one in Belfast.

“Despite a comprehensive marketing process, and after speaking to a number of interested parties, we regret to announce that no offers were made for Aquamarine Power as a going concern, leaving us with no option but to cease to trade the business.

“Our duty now as joint administrators is to maximize recoveries from the asset base for the benefit of creditors.”

The company had built and installed two full-scale wave energy devices, at the European Marine Energy Centre at Orkney.